Business book

Page 5

As I have mentioned before, I have been selling clothes on resale platforms such as Depop and Vinted for a few years now. Up until this past year, I hadn’t realised that this is the path I would take, however, from seeing other people my age turn this into a business, I decided that this was also something I could do. So, I started doing my research and talking to other sellers, asking for advice. For the last few months, I have been building connections with suppliers and trialling different stock to see which is the most successful, and I am now starting to see some positive results. This has come as a result of understanding this market in more depth and what consumers of this market are looking to buy into, but it has also happened as a result of a lot of trial and error.

The aim of using my business to form my FMP is to test the waters, meaning that I have created this campaign as a test to see how I could inject size inclusivity into my business in the near future. The reason as to why I am not going head first into this and thinking about size inclusivity within my business right now is because I am an independent starting out and so, I don’t have the capacity to take on a new approach to my business at this current time, which is why I am using this as a test and a stepping stone for once I graduate and move into running my business full time.

The concept #sourcedforyoursize looks at the gap in the market where there is evidently a lack of size inclusivity, and my intention with this concept is to trial how I could introduce size inclusivity into my business in the future. The purpose of portraying my FMP through a social media campaign is to target a new audience, an audience of consumers that connect with this idea, the social media campaign will act as a trial to see If I can target a new audience and to see if this audience would be more inclined to engage with and follow my brand on the journey to being size inclusive. So having said that, the main focus and objective of this campaign is to build an audience/community of customers that would be more inclined to buy from me if I was to introduce larger size ranges.

This book will focus on my business as that is a fundamental part of my FMP when it comes to putting it altogether. In particular, I intend to look at my business model and how I can use it to help form my FMP.

I N T R O D U C I N G M Y B U S I N E S S

REBRANDING MY BUSINESS FOR MY F

As I am simply using my business to form my FMP, I thought it would make more sense and would avoid confusion for the customers of my business to do a bit of a rebrand specifically designed for my final project. I initially thought about making minor adjustments like changing the font of my logo but after further research, I preferred the idea of rebranding specifically for this campaign, this way, it allows me to seperate my general selling of clothes in my business to a campaign I am creating for my business to form my FMP.

From looking at the rebrand image on the previous page, what I have done is changed the font for the #sourcedforyoursize text, to look more bold and overpowering any other text as this is the text the audience should focus on, I have added in a measuring tape as that is relevant to my project and kind of makes the rebrand self explanatory, as I think it is important for the audience to be able to depict what my project is about without an explanation so they can decide whether this is something that is relevant to them, and then finally, I have added in my business logo as that is a fundamental aspect of my project, seen as I am using my business to fill this gap in the market whilst also thinking about how I can implement this into my business in the future.

EXAMPLES OF REBRANDS FOR MARKETING CAMPAIGNS

What gave me the idea to rebrand my business specifically for this campaign came from researching what other brands have done for their own marketing campaigns. As you can see, I have included examples of the Marks & spencer rebrand for a campaign that celebrated the Royal Wedding of Prince Harry and Meghan Markle and the Debenhams rebrand with the intention being to bring a more modern and approachable twist to their 200-year heritage. With point of sale signs and posters being recreated with the brands new logo and messaging, the store’s new marketing message is clear with the intention to target a different generation of consumers. (REBRAND MARKETING CAMPAIGNS: STRATEGIES [W/ EXAMPLES]).

With my rebrand, it is my hope that it will also naturally target a new audience of consumers and a different audience compared to the one I have now within my business, and the aim of the social media campaign is to do exactly that, to reach new audiences that will connect with my concept.

FIGURE 1

B U S I N E S S M O D E L

Having already intoduced my business and how I am using it to base my FMP around, I thought it would be necessary to expand on this by looking at my business model.

To begin with, similar to every other business, I have expenses, and I have to add that into the cost of the clothes I sell, for example, when sourcing my stock, I generally have to pay out a lot for the stock itself, for shipping if sourcing internationally and customs duty tax if what I pay is above the minimum threshold to have to pay customs.

Starting a business in a competitive market is tricky as I need to identify how I can stand out to my competitors. At the moment, I am looking into the possibility of lowering my price point for each item, but in order to do this, I need to find a way to source cheaply. The reason why I think price reduction could work for increasing sales is because Depop especially, is known for being expensive because the majority of resellers on the platform are charging minimum prices of about £40, and most young people don’t have that kind of money, which is why a lot of them turn to Vinted as that is known as a cheaper alternative to resale. As I am starting out with my business, I am looking for a quick turnover and so, my prices currently, I believe reflect that considering the fact that I have expenses when sourcing overseas.

A business model in simple terms can be defined as a business plan for making a profit. Once I factor in all of my expenses and the cost of the stock itself, I can work out how much profit I can make, I usually do this by working out how much I paid out in total and then work out, if I was to sell this stock for £20 an item, how much profit would I make after I make the money back that I paid out. Moving forwards after university, my intention is to identify a niche and how I can bring in more traffic and create appeal to my brand.

Aswell as looking at profit and expenses, I also factor in the clothes I source. For example, I make sure to work with a supplier that provides handpick services so that I can examine each item and determine whether I could sell that piece, and how much I could sell it for. My Italian supplier of which offers this service is a supplier that I keep going back to, as from previous experience, I know that the quality and rarity of their vintage 2000s pieces is unmatched to any of my other suppliers. However, they tend to charge more for each individual item which means that the price that I list the item for, has to go up.

Referring back to my FMP, I intend to take my approach to sourcing stock into sourcing clothes for the photoshoot, this approach of handpicking the best of the best for my customers. I want my customers to buy into investment pieces and so, I always try to ensure I am sourcing good quality vintage clothes - I will never accept a fast fashion label.

Moving onto the marketing aspect of my business, since I started out, I have stuck to promoting solely on TikTok as it is easier for gaining more reach and bringing in more traffic. I don’t have many followers and I don’t get thousands of views but making the TikToks has made a difference and has definitely brought in new audiences. If I have had a recent stock delivery, my content plan usually consists of posting previews of stock drops, this creates demand for the products and brings customers in before the drop has even launched, so in that sense, TikTok is a very useful tool. When I take on my business full time, it is my intention to build up my following on TikTok and create a community of new and returning customers.

As mentioned before, my idea for my FMP is not something I will be physically putting into practice, as it is just a trial to see how I could introduce size inclusivity into my business in the future. Therefore, I want to keep my social media campaign seperate to my TikTok as it will confuse my customers seen as I will be posting my usual content for my business. I have created an Instagram account for my business which is where the social media campaign and all of my FMP work will be exhibited. I also believe that instagram is more of a solid platform for engaging with a new audience and for exhibiting a social media campaign. As for promoting my products that I sell, TikTok is more easily accessible for gaining traction to my stock drops and increasing sales. However, for the social media campaign, I am not promoting a product, I am instead trialling an idea for my business, therefore, Instagram would be the more suitable platform to exhibit this on.

BUSINESS PLAN FOLLOWING THE SOURCEDFORYOURSIZE CONCEPT

Following on from the business model, I have decided that it would also be necessary to create a business plan specifically for my FMP. As mentioned previously, my plan with this project is to test the waters with how I can implement size inclusivity into my business in the future.

With the concept being self explantory, I will be sourcing specific sized clothing for the model that I will be working with. How does this test the waters? My intention is to trial this idea with this project to see whether this is something I could potentially introduce as a new avenue for my business once I graduate. For now, I am sourcing for the model only, but if I was to implement this into my business, I would be looking at sourcing clothes in larger sizes and extending my size ranges so that I can be inclusive to all. However, for this project, I am merely looking to attract a new audience, and it is my plan to create a social media campaign to not only portray this but to also build up a following of a new audience of consumers who connect with this idea and would want to buy from me if I was to set this up.

Following on from my approach to sourcing stock for my business, my plan for when I source for the photoshoot is to source the best quality vintage clothes to ensure of customer satisfaction as that is something I value. I will source for the photoshoot as if I am sourcing new stock for my business, so that will mean handpicking the best quality and putting together a vision in my head as to whether this item of clothing fits in line with the type of clothing I generally source to ensure I am staying true to how I operate when I source to sell.

IDENTIFYING MY CONSUMER BASE/ AUDIENCE

When looking at the current consumer base for my business, I have identified that this group of consumers are members of Gen Z. With regards to how I have attracted my consumer base, I have built up a community over on TikTok of consumers within Gen Z that buy into vintage second hand fashion. I have identified that TikTok has been very useful in targeting and attracting a particular audience. Based on my content and how the algorithm works, my TikToks are being pushed out to the consumers that pay an interest in my business and the products I am selling, and when I post TikToks prior to a new drop, it generally creates more demand and hype for my drops as I am able to reach thousands of potential new customers. As a result of this community I have built, it appears that I have mainly built up a community of individuals that shop on Vinted, I have noticed that a lot of these consumers that view my TikToks have gone on to follow my Vinted. From this, I have also built up a community of returning customers who have loved my drops so much that they have returned to buy more.

In summary, TikTok has been a very useful tool in bringing in more traffic and attracting a particular audience to visit my shop where I sell my products. Through making TikToks for my business, I have learnt that the algorithm works by filtering content based on what users are interested in e.g. what videos they like and watch until the end, and they are fed more of that, so this is how I am able to reach a select audience of users who are interested in what I sell. On the previous page and the next pages, I have included some screenshots from my TikTok analytics to portray how TikTok has helped in gaining more traction and targeting specific audiences.

As mentioned in my research for the consumer case study, I envision my typical consumer to be a Gen Z member who has a preference for vintage second hand fashion and would prefer to spend time on resale sites or in charity shops instead of shopping on fast fashion sites.

From TikTok, I have noticed that it has become popular for Gen Zers to post their Vinted hauls and give advice to their audience of brands/keywords to search for when shopping on the app. The whole vintage second hand market has become a community of likeminded individuals, who have a habit of consuming too much clothes from Vinted because of the low price point.

With regards to my consumer base, I have noticed that TikTok if anything has helped grow my Vinted rather than my Depop in terms of bringing in more traffic, and I think that’s because Vinted has grown a lot in popularity and I think that it could be overtaking Depop in terms of popularity and success. Owing to this success, about 95% of my sales are made through Vinted. From my angle, it seems that Vinted has created a lot more demand and hype than Depop has and the majority of my customers from TikTok are visiting my Vinted page instead.

Moving forwards after university, I would like to move onto further identifying why my customers buy from my shop and what attracts them to the clothes I sell. it’s difficult to identify this but I think it will be relevant to understand this in order for me to see which direction I need to take my business in next.

From what I understand so far, I believe that the clothes I sell have some sort of hype and demand as I get a lot of positive feedback from my customers regarding these clothes, which shows that I have an understanding of this market and what consumers want to buy which is the difficult part.

BUILDING A WEBSITE

As I am not implementing size inclusivity into my business as of right now, I am creating a social media campaign and essentially creating a plan/idea of what this would look like. So, having said that, I have decided to build a website where I would be looking to sell size inclusive vintage. To further explain this, it has been my plan all along to build a website for my business once I graduate and step into running my business full time rather than continuing to sell my clothes on third party resale sites, mainly because it is my desire to run my own clothing business, so having a website would make my business more established and it would open up more opportunities and possibilities of what direction I could take next and how I could evolve my business. And of course, if and when I introduce size inclusivity into my business, it would be displayed on a website.

As you can see with the image on the previous page, taken as a screenshot from the website that I have created, I have decided not to include the #sourcedforyoursize rebrand logo as I have created that rebrand specifically for this campaign to attract a new audience and to portray that I am trialling a new approach for my business. However, moving on after this campaign, any future business moves will be branded under my logo and brand name, but for now, this rebrand has been created specifically for this campaign.

I have tried to make this website look as realistic as possible to ensure that the audience can see the vision of what it would look like in reality and for me to portray that this is how I would design it. So, to start with the branding, as you can see I have included my business logo to portray that this size inclusive collection would be sold through and revealed under my business name to make the size inclusive clothing exclusive to my business name. Below the branding, keeping in line with making it look as real as possible, I have included the default details you would expect on a clothing brands website such as the ‘shop all’ category and below that, the different categories of clothing of which a customer can click on and be taken straight to that category. For all of the ‘shop all’ categories, I have included all of the #sourcedforyoursize collection for this campaign, again to portray that this is how I would want it to look in reality.

Aswell as the main part of the website where all of the clothing categories can be found, similar to other brand websites, I have included a category for customers to click on that will take them straight to the ‘about’ section. For this category, I have included some information under the business name specifically targeted at being more inclusive with the sizing I offer, and this is something I would look to display on my website in the future. Below the information, I have included a link to the business Instagram account where the social media campaign can be found. However, picturing this in reality, the link would take the customer straight to the business Instagram account, where they will find the community of user generated content featuring other plus size consumers of the brand posing in their fits from the shop.

For each individual item on the website, I have priced them accordingly to how I usually price the clothes I sell. As stated before, I have been looking into developing a niche to stand out in such a competitive market and what I have been doing as of recently is lowering my prices as most resellers have high price points which makes it less accessible for all consumers. Moving forwards with my business, I want the clothes I sell to be accessible to all, including inclusive size ranges. Obviously, I have to factor in how much I pay for the clothes into the prices I charge, but if I can find ways to source cheaply, then having a lower price point will be easier to attain. With each individual item listed on the website, I have included 2000s in the description as the clothes I sell are generally from that era.

CUSTOMER EXPERIENCE

Customer experience is of course something I value and place a lot of importance on as it almost always guarantees positive feedback and returning customers. An example of good customer experience that I provide would be for example, sending out orders to customers either the same day or next day to ensure they receive their purchase quickly, another example is that I try to reply to messages from customers as soon as possible to answer any questions they may have about the item, or to offer discounts if they buy more than one item from me. Apart from the basic customer service skills that contribute to a positive shopping experience, I have recently been thinking about how I can enhance this experience to make it more special. For example, one thing I have seen a lot of brands doing, particularly small businesses is that they put a lot of effort into their packaging, for some brands, this may include a little note showing their appreciation for the customers purchase, for other brands, this may include a small poster design of their brand photos or of influencers wearing their clothes, with these posters also sometimes including a 10% discount for their next purchase, or including a small note welcoming the customer into their community.

After a talk with industry mentor, Eden Loweth, he said that he really liked some of my edited images from my test shoot and said that he thought it would look even better if I printed the image off and used it as a poster. From that idea, with influence from other small brands, I started thinking that I could include this poster within the packaging as a way of providing a positive and special experience for the customer. As this customer would be a plus size customer with it being centred around my project, I have focused this poster on promoting body positivity, as you will be able to see on the following page, this poster spreads a positive message and will hopefully make the customer feel valued and accepted for their body which was my intention when creating these edits, through this, my hope is that it will spread the notion that plus size customers should feel confident wearing clothes that most people would say belong on smaller bodies, with the most classic example being a mini skirt. Aswell as this poster, I think it would also be special if I was to add in a small appreciation note, again for the purpose of making the customer feel valued. As mentioned before, these images represent what it would look like and what I would do differently if I was to introduce size inclusivity into my business.

2
FIGURE

To go alongside the campaign messages, I looked into how I could enhance the customer experience for my future customers, so in that sense, aswell as developing a future business model that focuses on size inclusivity, I am also developing my business in general by thinking of different approaches to packaging orders for example, as I take on my business full time. This small note on the previous page will be something of which I would include in customers orders to give them some empowerment prior to wearing their purchase.

When introducing a new approach to your business, an approach that covers a sensitive subject, I think it’s important to go that extra mile when thinking about the target audience. Especially when it comes to the topic of size inclusivity and diversity, plus size individuals just want to feel valued by brands and to be given the same level of respect, which is why I think it’s important to go that extra mile to ensure that they do feel valued.

“The unboxing experience has to tell your brand story. Highlighting the benefits of the product on the inside of the top of the box, an area immediately visible upon opening, can make a strong impression.” – Miriam Brafman, Packlane CEO. (Strang, 2022).

As you will have noticed at the start of this book, I talked about my current business model and how having a low price point is something I have implemented with the aim of making more sales and a quick turnover. However, as I have identified a new future business direction through my FMP, I thought it would be relevant to create a new business model, specifically for this potential business venture.

As I have identified size inclusivity as a gap in the market, I can label it as my unique selling point as size inclusive vintage is not a common sight within the second hand resale market. A vintage clothing brand offering plus size 2000s style clothing is not something I have come across on resale sites, I have only discovered plus size vintage resellers through researching them which tells me that they’re not very popular in terms of their product offerings, or they haven’t gained enough reach from their target consumer. With reference to my business strategy, rather than diving headfirst into launching size inclusive vintage, I have instead created a social media campaign in the hopes that I can build up a following and connect with my target audience, and this has been the starting point for this new direction. Once I have built up a following and a community, I can then start thinking about implementing this.

Furthering the discussion of this gap in the market, the problem that I identified is the lack of size inclusivity and representation for plus size consumers. How do I intend to solve this problem? the solution is fairly straightforward as most sellers simply don’t have an extensive size range which means that the solution is to make the conscious effort to source in larger sizes. Aswell as this, with regards to the representation aspect, I have created a social media campaign to highlight this gap in the market and to give plus size consumers more of the spotlight, as mentioned before, I have secured a plus size model and face of the campaign for this with the hopes that she can be someone that the target audience can look up to. To ensure I am being inclusive to all, I also decided that it would be in my interest to continue with the low price points so that it is accessible to all, and to ensure that there are no barriers preventing future customers from buying from me, this would also be a goal of mine with regards to increasing my profit margin.

A marketing mission statement clarifies what a company hopes to achieve with its content. It shows why the content exists, who the content is for and what value the content can provide for audiences, including both customers and potential customers.

Having a simple, relevant marketing mission statement can help a company make important decisions about content creation, stand out from other businesses and offer engaging materials to its target audience. (Indeed Editorial Team, 2022).

With this mission statement that I have put together, I would say that the content I have created for the social media campaign refelects this. For example, ‘we strive to make this market more inclusive’ is one of the focus points for this campaign as the reality is that the vintage second-hand market isn’t inclusive and that is a gap I am looking to fill within this market. As a result of this gap, plus size individuals don’t get any representation and feel that their body is disregarded within the resale space as the early 2000s was an era that celebrated the skinny look and even with the resurgence of the Y2K style, that look is still celebrated in the 21st century. As stated in the mission statement, my goal for this campaign is to empower the audience, to help them feel confident in wearing whatever they choose.

This mission statement outlines the aims and objectives for this campaign, as I am not selling size inclusive vintage right now, I am using this time, this project to change the narrative and to help place plus size into the spotlight more.

Vintage clothing brand, Freya Jane Vintage has announced today that it will be expanding its size range with the launch of a size inclusive collection.

This new collection has been in the works now for months and the brand has been promoting this secret project via a social media campaign.

The brand’s founder, Freya Davidson decided that it was time for something to be done regarding the second-hand markets’ problem with size inclusivity and toxic body image standards.

Davidson adds, “being a consumer of vintage second-hand fashion myself, I am tired of seeing plus size individuals excluded from shopping vintage. With the resurgence of Y2K fashion, this has revived the obsession of the slim body physique in mini skirts and low rise jeans.”

“This campaign has granted me the opportunity to change the narrative surrounding Y2K fashion.”

To complete the package of this brand campaign and the future launch of size inclusive vintage, I have put together a press release as if this launch was in reality. Again, as the purpose of my FMP is to portray what this would look like in reality, I thought it would be necessary to include the whole package of what a brand would do prior to launching something new. As you will be able to see in the press release, I have included the key information that explains everything the audience needs to know. I have tried to make the information as professional as possible and the whole look of the press release aswell. For example, I have included the date of the launch which I have put down as the date of submission for this book and all of the other books, and I have also included the brand name, Instagram handle where the audience will be directed to the social media campaign, and then the website where the launch of the new collection can be found.

Distributing a well-crafted press release provides the opportunity to rank high in search, catch the attention of current and potential customers, and leads to direct engagement and sharing on social channels. You have the opportunity to reach an untapped audience that you may never have considered before. (Lorenz). Linking the social media handle and the website is relevant for gaining more engagement and traffic, bringing in audiences that discovered my brand from publicizing this press release.

“This campaign has granted me the opportunity to change the narrative surrounding Y2K fashion.”

To go alongside the press release and mission statement, I came up with a slogan which reveals the key focus of my FMP without the extra details. As you can see from the slogan, my project focuses on inclusivity, which is why I thought it was necessary to include it in the slogan. ‘All Inclusive’ suggests that my brand focuses on being inclusive to all. Currently, the sizes I sell don’t reflect this, however, with extending my size range, I will be looking to source in larger sizes aswell as smaller sizes. Having an inclusive size range means that there won’t be any barriers for future customers who want to buy into my brand.

A creative slogan should be unique and specific to your brand, but still easy enough to understand so that your audience gets the message immediately.

From my research, a good slogan should be brief in order for the audience to retain the information, seen as attention spans are getting shorter, it should also be clear so the audience can understand what exactly it is they’re buying into. (Master Class, 2021).

REFERENCES

Simpson Group. (n.d.). REBRAND MARKETING CAMPAIGNS: STRATEGIES [W/ EXAMPLES]. Simpson Group. https://www.simpsongroup.co.uk/blog/pos-rebrand-marketing-campaign/

Elly Strang. (2022, August 15). Brand Packaging: Why It Matters and How to Nail it (With Examples!). Looka. https://looka.com/blog/branded-packaging/

Indeed Editorial Team. (2022, June 25). How To Write a Marketing Mission Statement (With Tips). Indeed. https://www.indeed.com/career-advice/career-development/marketing-mission-statement#:~:text=A%20marketing%20mission%20statement%20clarifies,both%20customers%20 and%20potential%20customers.

MARY LORENZ (n.d.). 5 Reasons the Press Release Still Matters. Cision. https://www.cision.com/resources/articles/5-reasons-the-press-release-still-matters/#:~:text=Distributing%20a%20well%2Dcrafted%20press,may%20 never%20have%20considered%20before.

Master Class. (2021, June 7). What Is a Slogan? Create a Slogan in 4 Steps. Master Class. https://www.masterclass.com/articles/what-is-a-slogan

IMAGES

FIGURE 1: REBRAND MARKETING CAMPAIGNS: STRATEGIES [W/ EXAMPLES]. [Online Image]. Simson Group. https://guides.himmelfarb.gwu.edu/APA/image-electronic#:~:text=Tip%3A%20You%20 should%20give%20as,title%20of%20the%20work

FIGURE 2: https://www.theprintedbagshop.co.uk/printed-mailing-bags/

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